Friday, March 14, 2014

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The Gaurdian has reported that
MtGox continued trading for at least two weeks despite knowing that it did not
hold enough bitcoins to return every customer their money. They have noted a deposition from the CEO of
the embattled bitcoin exchange as proof.
Mark Karpeles gavethe
deposition to the Northern District of Texas bankruptcy courton Monday 9 March and said “On
February 7, 2014, all bitcoin withdrawals were halted by MtGox due to the theft
or disappearance of hundreds of thousands of bitcoins owned by MtGox customers
as well as MtGox itself.”

Before Karpeles’ deposition that MtGox had blamed bitcoin losses
due to hacking for the closure of bitcoin withdrawals. But the document shows
that it was another two weeks before MtGox halted trading on the exchange
itself, when it closed the site without warning on February 25.